Julio Jones signs 5-year extension; $47M in guarantees

The Atlanta Falcons and Julio Jones got it done.

The team announced Saturday that Jones had signed a five-year contract extension. NFL Media Insider Ian Rapoport reported that the five-year deal is worth $71.25 million with $47 million in guarantees.

The MMQB's Peter King first reported news of the extension. The Falcons later announced the extension in a press release.

"We could not be more thrilled to make Julio a Falcon for life," said Falcons owner Arthur Blank in a statement. "Julio has established himself as one of the top wide receivers in the NFL during his career and has already set the franchise record for receiving yards in a season. I am extremely proud of what he has accomplished and he has just begun to scratch the surface in terms of his potential."

Jones has lived up to expectations after the Falcons traded up to take the former Alabama star with the sixth overall pick of the 2011 NFL Draft. In four seasons, Jones has amassed 278 receptions for 4,330 yards and 26 touchdowns. Jones, 26, established a single-season franchise record with 1,593 receiving yards in 2014. His averages of 15.6 yards per catch and 88.4 receiving yards per game are the best in NFL history.

Jones joins Dez Bryant and Demaryius Thomas as top-tier wide receivers to sign lucrative extensions this summer. Jones' $47 million in guaranteed money slightly edges both Bryant ($45 million) and Thomas ($43.5 million). The agent for Bengals star A.J. Green is feeling pretty confident right about now.

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